Galectin Therapeutics eliminates $105.8 million debt in chairman note-to-equity conversion
GALT•Debt converted to equity and balance sheet strengthened
- Galectin Therapeutics converted USD 105.8 million of debt into equity, eliminating USD 91 million of principal, effective July 31, 2026.
- Chairman Richard E. Uihlein received 34,376,167 common shares at a blended average conversion price of about USD 3.07.
- Shares outstanding rose to 100,849,644 as of July 31, 2026, strengthening the balance sheet.
- A separate USD 10 million supplemental line of credit remains undrawn and available.
